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BP Stock Tumbles After Saying It Plans to Offload Stake in Russia’s Rosneft

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Shares in BP fell sharply Monday after the British energy giant said it would offload its nearly 20% stake in Russian government-controlled oil giant Rosneft as it joins Western efforts to isolate Russia following its invasion of Ukraine.

BP (ticker: BP) said in a statement that it would no longer report reserves, production or profits from Rosneft and that its chief executive, Bernard Looney, would immediately resign from the Rosneft board.

Divesting…

Europe Markets: European stocks skid on tightening Russian sanctions, while defense companies rally

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